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WorksheetsModule 3 Interest Income
Total questions: 10
Worksheet time: 4mins
Name
Class
Date
1.
Interest received on a certificate of deposit (CD) is
a)
Taxable
b)
Tax-exempt
2.
Interest received on a bond issued by the state of California to fund school buildings is
a)
Taxable
b)
Tax-exempt
3.
Interest received on a loan you made to your business partner is
a)
Taxable
b)
Tax-exempt
4.
Interest received on a bond issued by the city of Austin, Texas for a redevelopment project is
a)
Taxable
b)
Tax-exempt
5.
Interest income is considered
a)
earned income
b)
unearned income
6.
View Form 1099-INT. What is the taxpayer's full name?
a)
Gloria Sanchez
b)
Gloria Estefan
c)
Juan Sanchez
7.
How much interest income, not including interest on U.S. Savings Bonds and Treasury obligations, did the taxpayer earn?
a)
32.00
b)
432.87
c)
81.00
8.
Did the taxpayer earn interest on U.S. Savings Bonds?
a)
Yes
b)
No
9.
Which box shows the federal income tax withheld?
a)
1
b)
2
c)
3
d)
4
10.
Should taxpayers report taxable interest income that does not appear on Form 1099-INT?
a)
Yes
b)
No
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